Steel Strips Wheels has successfully secured a maiden entry as a supplier of aluminum wheels to one of the top passenger car manufacturers in India. Powered by Capital Market - Live News

Net profit of Steel Strips Wheels rose 35.73% to Rs 59.41 crore in the quarter ended December 2023 as against Rs 43.77 crore during the previous quarter ended December 2022. Sales rose 18.31% to Rs 1110.30 crore in the quarter ended December 2023 as against Rs 938.44 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales1110.30938.44 18 OPM %10.5011.50 - PBDT93.1787.90 6 PBT70.6767.69 4 NP59.4143.77 36 Powered by Capital Market - Live News

Steel Strips Wheels will hold a meeting of the Board of Directors of the Company on 17 January 2024.Powered by Capital Market - Live News

The Board of Steel Strips Wheels at its meeting held on 09 January 2024 has approved the infusion of Rs 138.15 crore into AMW Autocomponent (AACL) through a mix of equity and debt as per the approved Resolution Plan in the following manner: --i) Subscription of 50,00,000 equity shares of Rs 10 each aggregating toRs. 5 crore of AMW Autocomponent (AACL)ii) the remaining amount i,e. Rs, 133.15 crore as Inter Corporate Loan to AACL.Upon implementation of Resolution Plan, SSWL shall hold 100% equity interest in AACL, consequently, AACL shall become wholly owned subsidiary of SSWL. Simultaneously, as provided in the Resolution Plan, the existing issued equity share capital of AACL comprising of 4,92,03,251 equity shares of face value Rs. 10/- each held by existing shareholders shall be cancelled and extinguished without any payment to the shareholders in accordance with the approved Resolution plan. Powered by Capital Market - Live News

Net profit of Steel Strips Wheels declined 4.23% to Rs 52.30 crore in the quarter ended September 2023 as against Rs 54.61 crore during the previous quarter ended September 2022. Sales rose 4.87% to Rs 1133.72 crore in the quarter ended September 2023 as against Rs 1081.09 crore during the previous quarter ended September 2022. ParticularsQuarter Ended�Sep. 2023Sep. 2022% Var. Sales1133.721081.09 5 OPM %10.9610.84 - PBDT101.26100.20 1 PBT78.7879.97 -1 NP52.3054.61 -4 Powered by Capital Market - Live News